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Fetch.AI Soars 14.5% As AI Tokens Surge, Can FET Reach $4?

The crypto market is 5.1% up today, with a total market capitalization of $2.3 trillion. The recent pump has propelled different sectors, with memecoins being 9% up and Artificial Intelligence (AI) tokens increasing 11.2% in the last 24 hours.

Fetch.AI (FET) is at the forefront of the AI sector with its remarkable 14.5% increase in the past day. Some analysts foresee a bullish breakout for the token soon.

Are AI Tokens Taking The Lead?

As reported by NewsBTC, many market experts consider Artificial intelligence tokens a contender for the cycle’s biggest narrative in round 2.

Alex Wacy said the artificial intelligence industry is “on the brink of a multi-trillion-dollar boom” due to the increasing interest over the last year. As a result, the analyst considers the sector could create a market valued in the trillions, reaching $2 trillion by 2030.

This week, AI tokens have performed strongly. Altcoin Sherpa pointed out that the sector is “looking decent overall,” with tokens like Arweave (AR), Ocean Protocol (OCEAN), and Fetch.ai performing the best.

Renowned traded Daan Crypto considers the AI sector to be “bouncing the strongest” on this new market move, while memecoins seem to be the “weakest.” The trader shared his thoughts on Fetch.AI’s recent performance.

Daan highlighted the token’s attempt to break above the diagonal trendline. Per the chart, FET is testing the diagonal resistance, with the $2.35 mark being the first resistance level to reclaim.

AI, FET

A breakout above this level could be a “good start to a further trend change.” Moreover, the token broke “above the 4H 200MA/EMA already.” Per the trader, FET would need to test the $2.5 mark and remain above the $2.35 price range to “break the trend and head higher over the next couple of weeks.”

Similarly, crypto trader Scient considers the token consolidating inside a one-day ascending bullish triangle. His chart highlights the $2.12 mark as support for the diagonal trendline.

He forecasted a deviation below the trendline “towards 1D 100EMA” before reclaiming the $2.12 price range and moving back inside the triangle. If a retest and confirmation of the trendline reclaim occurred, the trader suggested he “would long it.”

Analysts Forecast $4 For FET

Crypto analyst World of Charts identified a “textbook” bullish pennant pattern on FET’s chart. The analyst expects an upside breakout soon, potentially leading to a 2x bullish wave. If the breakout is successful, the token’s price could move above the $4 price range.

Moreover, CryptoBoss seems to concur with this forecast. The trader shared a similar chart, signaling a possible breakout that could drive the token to double its price. In the post, he stated, “$FET 4$ exe loading…”

In the past 24 hours, the token has surged an impressive 14.5%, going from $2.04 to hover between the $2.3-$2.32 price range. This increase represents 7.5% and 13.2% in the weekly and monthly timeframes.

Similarly, FET has seen a rise in market activity. Its daily trading volume increased by 102%, with $354.2 million traded on the last day.

AI, AI tokens, FET, FETUSDT

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By The Numbers: Over 1 Million New Crypto Tokens Launched Since April

The crypto community created over one million tokens across all chains in the past month, with Solana and Ethereum leading the crypto token frenzy. According to Coinbase’s director, these numbers doubled the tokens created in Ethereum between 2015 and 2023.

Over 22,000 New Crypto Tokens Created Daily

Coinbase’s director Connor Grogan shared on X that 1 million tokens have been launched since April 1, 2024. The tokens created in the Ethereum Network account for 36% of the total number, with 372,642 tokens launched in the past month and a half.

According to Dune Analytics, 327,553 tokens, around 88% of the total, were launched on the Layer-2 blockchain Base. The surge was seemingly propelled by the memecoin frenzy that has taken over this cycle.

crypto

Additionally, Ethereum and Arbitrum saw a significantly smaller number of new crypto tokens launched, with 21,474 and 19,284 new tokens, respectively.

However, Solana took the crown after seeing the creation of 643,227 tokens since April 1. Out of those, 464,563 are memecoins, per Dune Analytics. Moreover, Grogan highlighted that Solana registers an average of 20,000 new tokens daily.

As reported by Solana Floor, on Monday, the blockchain reached a new all-time high (ATH) in newly created tokens, with 23,000. This could be attributed to the market pump propelled by the return of renowned crypto trader Roaring Kitty. Since his comeback to social media, several new memecoins have been created, and the top ones have surged.

The crypto community reacted to the astonishing numbers, with many expressing concerns. One user pointed out that most of these tokens are “just spam to farm sniper bots.” He alleged that some people launch tokens “just to rug pull bots that auto-bought.”

Another user playfully added, “The moral of the story is don’t buy projects created after February 2024.” This year, investors have seen many project launches promising big returns. Instead, investors have suffered rug-pull and other scams.

Overabundance Of Altcoins?

At the end of April, DeFi researcher and Web3 investor Thor Hartvigsen pointed out that while only four months into the year, the market had seen a massive increase in the supply of altcoins.

As a result, this increase accounted for $8.6 billion in additional liquid supply injected into the market. Hartvigsen added that crypto projects will unlock $70.5 billion over the years, with many tokens launched in 2023 “also unlocking this year with many cliffs ending.”

Moreover, the market observer highlighted that the average float in market capitalization and fully diluted valuation (FDV) for the tokens launched in Q1 2024 was just 13.6%.

crypto

To him, this is only “the tip of the iceberg,” as the crypto market will continue to be flooded with new supplies and tokens. He offered a list of categories he believes will see the greatest number of new tokes this year.

His list included Modular Infrastructure protocols, Liquid Restaking Tokens (LRTs), Bridges and Cross-Chain Messaging solutions, and Perpetual Decentralized Exchanges (DEXes).

On Tuesday, DeFi researcher Ignas shared a list based on the recently launched low-float tokens shared by Hartvigsen. According to him, these tokens are down by 63.6% on average.

According to the researcher, tokens like JUP, ONDO, and STRK have registered a 49.2%, 30.5%, and 74.2% decrease from ATH prices.

crypto, TOTAL

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GameStop Stock And Wolverine Memecoins Explode As Roaring Kitty Returns To The Spotlight

GameStop, the video game retailer that took Wall Street by storm in 2021, has once again become the talk of the town as its share price surges 100%. 

Fueling this rally is the return of the influential social media figure Keith Gill’s “Roaring Kitty.” After a long hiatus, Roaring Kitty’s recent activity on social platforms, including an image and video, has ignited excitement among investors and triggered a renewed frenzy for GameStop’s meme stock and the emerging world of memecoins. 

GameStop Memestock Frenzy

The meme-stock phenomenon gained widespread attention in 2021 when cash-rich investors pumped up the stock market and bet against short-selling hedge funds. 

Keith Gill’s “TheRoaringKitty” account and the subreddit “WallStreetBets” played a pivotal role in the meme stock frenzy, driving stocks like GameStop and AMC Entertainment to surge over 1,000% by the end of the same year. 

While some early investors reaped rich returns, hedge funds such as Gabe Plotkin’s Melvin Capital Management suffered significant losses, leading to closures.

According to Bloomberg, short sellers betting against GameStop initially enjoyed gains in the year’s first four months. Still, the volatile nature of meme stocks quickly erased those paper gains. Per the report, “skeptics” were up an estimated $400 million from January to April before slipping into the red by Monday morning.

The percentage of GameStop shares sold short relative to those available for trading has remained at approximately 24%, a relatively high level for a typical company but significantly lower than the 140% levels witnessed during the 2021 mania. 

As GameStop’s shares gained momentum, the cost to bet against the company increased. Recent data from S3 indicates borrowing costs exceeding a 10% annual financing fee range.

Roaring Kitty’s Ripple Effect

Roaring Kitty’s influence extended beyond GameStop, as Wolverine-themed memecoins flooded various blockchains. In response to a social media post featuring a video of Marvel superhero Wolverine, more than 30 new tokens were launched on platforms like Ethereum and Solana, as data by Dextools shows. 

Notably, the newly minted “Roaring Wolverine” token on the Ethereum blockchain experienced an astonishing 80% surge within hours of its release.

Furthermore, the memecoin market has witnessed a notable resurgence, with tokens such as Dogecoin (DOGE), Shiba Inu (SHIB), Pepe (PEPE), Dogwifhat (WIF), Floki Inu (FLOKI), and Bonk Inu (BONK) recording significant gains, according to CoinGecko data. 

For instance, PEPE, the market leader, surged by 15% in the past 24 hours, complementing its 20% uptrend over the previous week. It reached a new high of $0.00001077 during early Monday trading.

GameStop

Ultimately, GameStop’s meme stock resurgence, fueled by the return of Roaring Kitty, inflicted substantial losses on short sellers of the meme stock on Monday. 

The impact of Roaring Kitty’s social media presence has extended to the memecoin market, with several Wolverine-themed tokens experiencing significant surges. 

Featured image from Shutterstock, chart from TradingView.com

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Toncoin Soars 32% On The Back Of Pantera Capital’s Mega-Investment

Toncoin (TON), the native token of the Telegram Open Network (TON), is experiencing a meteoric rise after a major investment from venture capital giant Pantera Capital. The news sent positive vibes through the crypto market, propelling TON’s price over 30% in the weekly timeframe, and reigniting investor enthusiasm for the project.

Pantera Bets Big On TON’s Mass Adoption Potential

Pantera Capital, a leader in blockchain investments, has made a significant move by placing a hefty bet on the Toncoin ecosystem. While the exact investment amount remains undisclosed, industry whispers suggest it could surpass the $250 million Pantera spent on discounted Solana (SOL) tokens last year. This strategic investment underscores Pantera’s belief in TON’s potential to become a mainstream cryptocurrency.

“We’ve invested heavily in TON because it has the unique ability to introduce crypto to the masses,” declared Pantera Capital in a recent blog post. They point to TON’s seamless integration with Telegram, a messaging app boasting a staggering user base exceeding 800 million.

Pantera envisions TON leveraging Telegram’s user-friendly interface and vast user pool to become a dominant force in the crypto landscape.

TON Price Rallies On Positive Developments

Pantera’s bullish stance on TON comes on the heels of a series of positive developments for the project. At the recent Token2049 conference in Dubai, Telegram co-founder Pavel Durov unveiled a roadmap for integrating TON functionalities directly within the Telegram app.

This includes plans to allow users to log in to their Telegram accounts using crypto wallets, further blurring the lines between traditional messaging and the world of blockchain.

The news of Pantera’s investment, coupled with Telegram’s commitment to TON integration, fueled a buying frenzy in the TON market. The token price surged near the $7 mark, inching closer to its all-time high of $7.25. This price increase reflects renewed investor confidence in TON’s future prospects.

Overcoming Regulatory Hurdles: A Look Back

Despite the current wave of optimism, TON’s journey hasn’t been without challenges. In 2019, the US Securities and Exchange Commission (SEC) issued a restraining order against Telegram, effectively blocking the launch of its planned Gram token.

The SEC alleged that the Gram ICO violated securities laws. However, the Telegram team persevered, and the TON ecosystem continued to evolve with TON coin emerging as its central currency.

A New Chapter For Toncoin?

Pantera Capital’s investment and Telegram’s continued commitment to TON integration mark a significant turning point for the project. With a robust messaging platform as its foundation and the backing of a prominent investment firm, TON is well-positioned to bridge the gap between mainstream users and the world of cryptocurrency.

Featured image from GoodFreePhotos, chart from TradingView

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Crypto Traders Discuss Why Memecoins Have Been 2024’s Most Profitable Narrative

Journalist and host Laura Shin interviewed crypto traders Ansem and Kel, known on X as blkoiz06 and Kelxyz, for her Unchained Podcast.  They discussed why memecoins had become the most profitable crypto trade this cycle and what the future might hold for the sector.

Is There Value In A Memecoin?

To begin with, Shin asked the traders whether there was substance in tokens based on memes, as it has been a big argument against them. To Ansem, people “think too hard” about the value of memecoins as projects. Moreover, he considers there’s no real gain in comparing whether other altcoins deserve or have more value than meme-based tokens.

Ansem further explains that the crypto community is “very internet-centered,” with its members being “internet people” since crypto’s origin.  As a result, the community is knowledgeable about the financial aspect but is also knees-deep in online culture.

The trader believes “there’s value in memes and culture on the internet.” People in the community are “financializing” meme virality and realizing that it’s a possibility with crypto.

Shin jokingly added that if this trend had been popular in 2016, the Drake meme creator would be a “bazillionaire” by now. The host seemingly referenced the still-popular meme that originated from Drake’s Hotline Bling music video.

Agreeing with this argument, Kel asserted that, over the last 20 years, many trillion-dollar businesses have capitalized attention as their “winning trade businesses idea.”

All these trillion-dollar businesses (…) facilitate directing attention and the way they’ve done that successfully has been, oftentimes, via memes. One could even make the argument that memes are the core engine of the entire Internet.

The Risks And Criticisms Of Memecoin Mania

To understand why memecoins have become the narrative of Q1 2024, the traders discussed the risks and arguments against the tokens.

One of the biggest criticisms of memecoins is their high-risk nature. Because they are much smaller and not backed by institutional money, they can “be riskier” and “more easily go to 0.”

Despite this, traders consider that many investors, especially new ones, find memecoins attractive because they have the potential to give 100x to 1000x returns.

Moreover, losing money is not exclusive to memecoins. To illustrate his point, Ansem compared the people who bought Doge’s top to those who bought Bitcoin at $69,000 last cycle before it fell to $15,000.

To the trader, how much a token can drop and investors buying the top is part of the general market dynamics instead of a characteristic of memecoins. However, he clarifies that there is better criticism of the sector.

Ansem considers the shady behavior behind the projects’ teams a crucial issue to address. To him, a framework could prevent creators from controlling a large supply of the tokens and dumping them immediately after launch or rug-pulling investors.

In the replies to the podcast, a user argued that the reason behind the recent frenzy is driven by “the Financial nihilism and the lack of liquidity that the youth has.” Adding that investors are “Buying a mere coin is like a lottery ticket.”

It is worth mentioning that trading memecoins like lottery tickets is not an unseen phenomenon. On-chain research platform Lookonchain recently reported a trader seeing 4,906x gains in one day by precisely doing that.

Per the report, the trader invests 0.1/0.2/0.3 SOL for each memecoin. Yesterday, the investor turned $30 into $147,000 by turning 0.2 SOL into 2 million AGORA.

What’s In Memecoins’ Future?

When asked what is in store for the sector, both traders concurred that memecoins are not going away. To Ansem, the community behavior towards memecoins is like that of NFTs last cycle. With NFTs, investors felt like they were part of a community and were working towards developing it.

The shared experience of relating is another crucial factor in the craze of meme-based tokens, as seen in communities of tokens like Dogwifhat (WIF).

Adding to that idea, Kel asserted that “all memes will become coins” in the next ten years.  Moreover, the trader wouldn’t be surprised if “the creation of a meme was natively financialized” by then, as the trend of financialization of things continues to increase.

Ultimately, he believes the sector is in the early stages of this trend as the community tries to “capture the moment of a meme” and capitalize on it now that crypto has made financialization “trivial from a tech perspective.”

crypto, crypto market cap, memecoins

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Fantom (FTM) Bull Run: 8% Price Surge And Robust Double-Digit Growth In Key Metrics

Fantom (FTM), a Layer-1 (L1) protocol, and its native token, FTM, have experienced significant gains and notable achievements in the first quarter (Q1) of 2024. 

According to a comprehensive performance analysis conducted by Messari, amid the emerging crypto bull market, Fantom has emerged as one of the major beneficiaries, showing significant growth in key metrics and market capitalization. 

FTM Market Cap Soars 101% QoQ

By the numbers, FTM’s circulating market capitalization saw a substantial 101% quarter-over-quarter (QoQ) increase, jumping from $1.3 billion to $2.6 billion, vaulting it up ten spots to 48th among all tokens (currently 58th). The token’s rally extended for two consecutive quarters, resulting in a fourfold increase since the end of Q3 2023.

Fantom

Although Fantom experienced a decrease of 53% QoQ in revenue measured in FTM, amounting to 1.8 million FTM, revenue denominated in USD exhibited a 4% QoQ increase, reaching $1.2 million. 

According to Messari, the revenue decline was primarily due to reduced inscription activity across all smart contract platforms in Q1. 

Despite this, Fantom maintained an upward trend in average daily transactions, excluding inscription-related activity, surpassing the Q3 average and reaching 247,000 daily transactions. Daily active addresses also rebounded, rising by 24% QoQ to 40,500.

In Q1, the staking requirement for Fantom validators was significantly reduced from 500,000 FTM to 50,000 FTM, aiming to increase accessibility. However, the number of active validators remained unchanged at 55. 

Notably, the total amount of FTM staked increased by 17% QoQ, from 1.1 billion to 1.3 billion FTM, resulting in a 135% QoQ surge in the total dollar value of staked FTM, reaching $1.2 billion. Among proof-of-stake (PoS) networks, Fantom ranked 22nd in the dollar value of funds staked by the end of Q1.

Memecoin Mania Boosts Fantom On-Chain Activity

During the year’s first quarter, Total Value Locked (TVL) denominated in USD experienced a substantial 59% QoQ increase, rising from $810.8 million in Q4 to $1.28 billion. 

Conversely, TVL-denominated in FTM decreased by 21% QoQ, indicating that the surge in USD-denominated TVL was partly attributed to FTM’s price appreciation.

Fantom’s average daily decentralized exchange (DEX) volume surged by 64% QoQ, from $10.2 million to nearly $176.8 million. In Q1, the “Memecoin Mania” trend contributed to elevated on-chain activity across various networks, including Fantom.

Fantom

Fantom’s monthly DEX volume surpassed $1 billion in March, marking the first time since March 2023. The number of DEXs on Fantom increased to 31 by the end of Q1, with no single DEX dominating more than 30% of the market share.

Lastly, following an exploit in the Multichain: Fantom Bridge, which affected stablecoins on Fantom in Q3 2023, the Fantom Foundation took steps to increase the liquidity of stablecoins. 

As of Q1 2024, two independent third-party bridging solutions, Axelar (axlUSDC and axlUSDT) and LayerZero (lzUSDC and lzUSDT), have emerged. USDC remains the predominant stablecoin on Fantom, accounting for 98% of the stablecoin market cap. USDT also experienced considerable growth, with an 86% QoQ increase.

Fantom

The FTM token is currently trading at $0.7037, reflecting an 8.7% increase in price over the past seven days. However, it has experienced a decline of nearly 20% in the monthly time frame.

Featured image from Shutterstock, chart from TradingView.com

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PEPE Primed For A Big Leap: 80% Price Increase Incoming?

The cryptocurrency market may be experiencing a cool down, but one meme coin is refusing to catch a cold. PEPE, a token emblazoned with the internet’s famous frog, has defied recent bearish trends with a surge in price and trading activity. This resilience has fueled speculation of a potential “bullish breakout” in the coming days, with some analysts predicting astronomical gains.

PEPE Weathers The Storm

While Bitcoin and Ethereum have taken a breather in recent weeks, PEPE has exhibited surprising strength. Unlike its more established counterparts, PEPE hasn’t succumbed to the broader market chill. In fact, the meme coin has managed to inch up slightly this week and even enjoyed a nearly 10% price jump in the last 24 hours. This resilience has captured the attention of investors and analysts alike.

Trading Frenzy: PEPE Ignites Investor Interest

The newfound bullishness surrounding PEPE is further bolstered by a surge in trading activity. The coin boasts a 24-hour trading volume exceeding a staggering $1.26 billion, placing it firmly in the spotlight. Additionally, PEPE’s market capitalization currently sits at a healthy $3.23 billion, a testament to its growing presence within the crypto landscape.

Technical Analysis Paints A Bullish Picture

Adding fuel to the fire, crypto analyst World Of Charts has identified a bullish flag pattern in PEPE’s recent price action. This technical indicator often precedes a price breakout, suggesting that PEPE might be on the cusp of a significant upward trajectory.

World Of Charts predicts a potential price surge of 80-90% in the coming days if the coin manages to break free from its current resistance level.

Meme Coin Frenzy: A Double-Edged Sword?

Despite the optimistic outlook, a cloud of caution hangs over PEPE’s future. The coin falls under the category of meme coins, a notorious sector within the cryptocurrency market known for its volatility and often lacking strong fundamental backing.

Unlike established projects with real-world applications, meme coins often rely on community hype and internet trends to propel their value. This can lead to sharp price spikes followed by equally dramatic crashes.

While the prospect of an 80-90% return on investment is undeniably enticing, experts urge potential investors to approach PEPE with a dose of healthy skepticism. The analyst prediction, while optimistic, should not be taken as financial gospel. The cryptocurrency market, especially the meme coin segment, is inherently unpredictable.

Featured image from Pexels, chart from TradingView

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Memecoins Resurgence? POPCAT And MEW Lead The Way With 20% Surge

As the crypto market settles in on this new phase of the crypto cycle, some memecoins have shown remarkable performance over the last couple of days.

Cat-theme tokens have significantly grown in popularity during this bull run, with some, like Cat in a Dog’s World (MEW), making it to the top 10 memecoins list. Other feline-inspired tokens like Popcat (POPCAT) and Wen (WEN) have had a stellar week after recent partnerships that caused the price to surge by 20% overnight.

Was The Memecoin Surge Fueled By Bitcoin?

The memecoins sector has been dominated by dogs, with tokens like Dogecoin (DOGE) and Shiba Inu (SHIB) being the flagship memecoins for the last few years. During this bull cycle, dog-themed tokens like Bonk (BONK) and dogwifhat (WIF) have been the talk of the town, and some of the tokens with the strongest performance.

Since its launch in January 2023, Bonk has surged around 4291%, while WIF has soared about 1512% since December 2023. Moreover, the sector has shown stellar performances with cryptocurrencies like PEPE and Book of Meme (BOME).

Bitcoin (BTC) has dominated this cycle alongside memecoins, as highlighted by top crypto analysts like Alex Krüger and Altcoin Sherpa. However, their performance has been strongly co-related to BTC’s in most cases.

The rest of the market has gone down with Bitcoin whenever the flagship cryptocurrency faces a strong retrace. Consequentially, when BTC has recovered, most sectors, including memecoins, have regained their levels. It’s worth noting that some tokens like Popcat have continued to perform well, even during the recent rally slowdowns.

On Thursday, Bitcoin successfully tested the $59,000 resistance level after spending most of May’s first days hovering between $57,000-$58,000. In the last hours of the day, the largest cryptocurrency seemingly turned the resistance level into a support zone, pumping the price of several memecoins.

As a result, the memecoin market was 9.46% up on Thursday night. Similarly, cat-themed tokens were up by 22.09% with a market capitalization of $1.581 billion, per CoinMarketCap data.

Cat-Themed Memecoins Take The Lead With Popcat

Despite dominating the memecoins market, canine-inspired tokens have lost some ground against the increasing popularity of feline-inspired ones. While the cats’ tokens had increased over 20% in the previous 24 hours, the dogs’ sector only surged 3.7% in the same timeframe.

Over the last few days, cat-themed memecoins have been among the top gainers in the crypto market. For instance, Popcat has remarkably maintained its upward trajectory during the recent retrace and also joined the top 10 memecoins list.

Popcat, which seems to be building a loyal community, has continuously shown double-digit gain percentages this week. As reported by SolanaFloor, the token momentarily flippled BOME with its $570.3 million market capitalization.

Moreover, as Bitcoin reclaimed the $59,000 level, the cat-themed token saw a 31% price increase in the daily timeframe. This made Popcat the largest gainer among the top ten memecoins.

According to memecoin analyst Murad, Popcat will surge to $5-10 in the short-term as “the Crowned Top Cat.” As the token reached its all-time high (ATH) of $0.618 on Thursday, the trader highlighted several targets, including a long-term $20 scenario.

popcat, memecoins

Murad expects the token “to go to $1 quickly” next time it closes above $0.63. Per the analysts, “It’s Cat Season baby and $POPCAT is in control.”

MEW Remains A Popular Cat

A month ago, MEW joined the dogs’ pack after becoming the eighth largest memecoin by market capitalization. Since then, the lonely cat’s performance has struggled, with a 51.8% and 28.4% price decrease in the monthly and weekly timeframes.

Despite the recent drop in performance, the token has remained one of the hottest topics among altcoins. On Monday, crypto exchange Bidget crowned MEW as the most searched altcoin on the exchange, beating PEPE and SOL on the “#BidgetTrendingSpot.”

At the time of writing, the token has shown a remarkable 12% price recovery in the last 24 hours, currently trading at $0.00424.

memeocoins, cat-themed memecoins, Poppet, POPCATUSDT

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Analysts Call It: XRP Primed For A 700% Surge – Details

Ripple’s XRP token finds itself navigating through turbulent waters. Over the past few months, XRP has experienced significant price fluctuations, leaving investors pondering the trajectory ahead. Despite a modest weekly gain, XRP remains below its 30-day average, signaling a bearish sentiment prevailing in the market.

XRP Price Wobbles: Downward Trend Or Temporary Dip?

At its current value of approximately $0.52, XRP reflects a market sentiment characterized by uncertainty. However, amidst the downward trend, a chorus of analysts is singing a different tune, foreseeing a potential surge in XRP’s price.

Notable crypto analyst Egrag Crypto has outlined optimistic scenarios, projecting price ranges between $1.20 to $4 – or an increase of around 360%-700% – by mid-summer and September, respectively. These predictions, anchored in historical data and technical analysis, envision a bullish trajectory akin to XRP’s performance in 2021.

Beyond The Hype: Reasons For Caution

Amidst the fervor surrounding bullish predictions, a note of caution resonates within the cryptocurrency community. The inherent volatility of the market and lingering regulatory uncertainties serve as sobering reminders of the risks associated with investing in XRP.

While past performance may hint at future possibilities, it offers no guarantees in the ever-evolving landscape of digital assets. Moreover, even in the event of a favorable verdict for Ripple, regulatory scrutiny could persist, casting a pall over XRP’s potential growth trajectory.

Legal Battle: A Catalyst For Change?

Fueling the bullish sentiment are analysts like Dark Defender, who emphasize the pivotal role of Ripple’s ongoing legal battle with the US Securities and Exchange Commission (SEC). The outcome of this protracted lawsuit, which alleges Ripple’s violation of securities laws, holds significant implications for XRP’s future.

Despite the regulatory cloud looming over Ripple, partial victories in court have bolstered optimism among supporters, hinting at a possible turnaround in XRP’s fortunes. Dark Defender, in particular, highlights the prospect of a “momentous pattern shift” upon a favorable resolution of the legal dispute, underlining its potential to catalyze a substantial price rally.

Investors On The Edge

The lawsuit, simmering for over three years, has cast a long shadow over XRP’s trajectory. With the SEC seeking a hefty $2 billion fine against Ripple for alleged securities violations, the stakes are undeniably high.

Ripple, on the other hand, maintains its innocence and contests the charges, offering a counter-penalty of a mere $10 million. Yet, the uncertainty stemming from the legal standoff has left investors on edge, wary of the potential ramifications on XRP’s classification and market dynamics.

Featured image from Science Photo Gallery, chart from TradingView

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After WIF, BONK, BODEN: Top Crypto Trader Now Buys These 2 Memecoins

Memecoins are once making waves in the crypto market. In the last 24 hours, 4 of the 10 best-performing cryptocurrencies in the top 100 are meme coins. The biggest gainers include BONK (+10.2%), PEPE (+4.8%), WIF (+4.7%) and FLOKI (+4.1%). With meme coins slowly regaining, crypto traders are seemingly focusing on lesser-known coins.

Top Crypto Trader Focuses On These 2 Memecoins

According to data from on-chain analysis service Lookonchain, the renowned crypto trader known as “paulo.sol” has been making significant moves into new memecoin territories. Paulo.sol, who has previously amassed substantial profits from meme coins like BONK, WIF, and BODEN, is now shifting his focus to acquiring significant stakes in PUPS and POPCAT.

Lookonchain’s recent posts on X (formerly Twitter) provide a deep dive into paulo.sol’s past and present investment patterns. “What a legend! Paulo.sol has realized profits of $9.51M on WIF, $7.04M on BODEN, and $6.28M on BONK,” Lookonchain tweeted. In total, the crypto trader has made $22 million in realized profits.

The posts further reveal that paulo.sol bought into BONK early in November 2023, capturing substantial gains as its value surged. “As early as Nov 11, 2023, paulo.sol noticed the rising of BONK and bought BONK. He made ~$6.28M by buying BONK at low prices and selling at high,” the data provider stated.

The crypto trader continued his strategy by investing in WIF and BODEN in December 2023 and March 2024, respectively, following their sharp price increases. Notably, “paulo.sol did not buy WIF and BODEN when they first went online, but paid attention to and bought heavily when they first rose sharply,” Lookonchain observes.

As of now, paulo.sol continues to hold 12.87 million BODEN tokens valued at approximately $7.6 million and 1.87 million WIF tokens worth around $5.7 million. However, his most recent activities show a pivot towards new meme coins, PUPS and POPCAT, sparking interest among investors and analysts alike.

Lookonchain noted, “We noticed that paulo.sol is buying PUPS and POPCAT recently. He spent $1.77M to buy 4.3M POPCAT at $0.42 today. And he has spent $5.97M to buy 101,712 PUPS at $59 since Apr 11, becoming the largest holder of PUPS on Solana.”

The impact of paulo.sol’s investment has been palpable in the market dynamics of the newly favored meme coins. Despite a general downturn in the memecoin sector, POPCAT’s price surged by 52% today, trading at approximately $0.51 with a trading volume increase of 51% to $166 million. Over the past nine days, POPCAT has risen a whopping 410%.

On the other hand, PUPS is seeing a price drop of 4.2% today, trading at $36.96, with a 27% fall in trading volume to $2.82 million. Since reaching an all-time high above $152 on April 14 (on Coinex), the PUPS price is down more than 78%.

PUPS price

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FLOKI And BONK Drop 5% After Revolut Listing Announcement

FLOKI and BONK had remarkable growth over the weekend after recovering from the Bitcoin dip at the end of last week. These tokens have been some of the hottest topics during this bull run, with FLOKI and BONK increasing by over 500% and 87%, respectively.

Recently, both memecoins were listed on the European neo bank and retail platform Revolut, but the news didn’t appear to have a massive impact on the tokens. However, the projects’ most recent announcements have seemingly made them soar in the past hour.

FLOKI And BONK To Take Over Europe

The projects announced their listing on Revolut on Monday. The new listing expands the reach of FLOKI and BONK to a broader audience, as the platform is available to 40 million users in over 150 countries.

Moreover, the listing will allow users to buy the tokens with 25 fiat currencies, including EUR, GBP, and USD, directly from the Revolut app. Per the BONK X post, users in Europe and eligible countries will also have access to a Learn and Earn program starting on April 29.

Crypto trader Altcoin Gordon weighed in on the matter, telling his 458,000 followers that the listing was “pretty BIG.” According to Gordon, it will allow the tokens to compete with Dogecoin (DOGE), Dogwifhat (WIF), PEPE, and Shiba Inu (SHIB).

Despite the announcement, the tokens performed modestly after the news. FLOKI’s price increased 2% in the following hour, trading at $0.0001778. Nonetheless, the token dropped 5.3% hours later to trade at $0.0001693.

Meanwhile, Bonk’s price increased by 3.7%, trading at $0.0002069 before facing a 3.4% dip to the $0.0001990 level.

Similarly, both tokens have seen a decrease in daily activity in the past 24 hours. FLOKI’s daily trading volume fell a staggering 31.6%, while BONK’s trading volume dropped over 51%.

New Announcements Boost Prices

On Tuesday morning, FLOKI was trading at $0.0001727, representing a modest 0.4% gain from the token’s price 24 hours prior. On the other hand, BONK traded for $0.00002019, a 2.6% price decrease from the day before.

However, the project’s most recent announcements have positively impacted the tokens’ prices. FLOKI announced that the decentralized platform Alltoscan locked $18 million worth of $ATS for 15 months using the project’s crypto locker protocol, FlokiFi Locker.

The news appears to have been well-received by the community. Seemingly fueled by the positive sentiment, the token rose 5.5% in the last hour. Similarly, FLOKI now surged 11.2% from 24 hours ago.

Meanwhile, BONK announced renowned artist JT Liss as “The Dog’s Director for BONK Art Masters.” JT is set to lead Bonk’s BAM residency program and the Creator Grants program “to help provide more opportunities for artists in the Solana ecosystem.”

Following this news, the token increased by 4.3% in an hour and over 5.6% from its price 24 hours ago. At the time of writing, BONK is trading at $0.00002164.

FLOKI, FLOKIUSDT, crypto, memecoins, BONK

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Halving Hype Lifts Litecoin: Analyst Sees 400% Price Increase Coming

Litecoin (LTC), the digital currency often dubbed “silver to Bitcoin’s gold,” has been stirring in the shadows of its flashier counterpart. Despite a recent price dip from $112 to $83, analysts see glimmers of a potential surge in the coming months.

This renewed optimism follows Litecoin’s defiance during the highly anticipated Bitcoin halving event, where Bitcoin’s block rewards were cut in half, impacting the entire crypto market.

Litecoin Exhibits Resilience After Price Dip

While some cryptocurrencies floundered after the Bitcoin halving, Litecoin displayed surprising resilience. This, coupled with a recent uptick in trading volume reaching $686 million over 24 hours, suggests a growing interest in LTC.

The cryptocurrency currently sits at a market capitalization of $6.18 billion, solidifying its position as a top contender.

Technical Breakout Hints At Bullish Future For Litecoin

Technical analysts are particularly enthusiastic about a recent development for Litecoin. The digital currency appears to be breaking out of a multi-year symmetrical triangle pattern.

This technical indicator often signifies a shift in market dynamics and underlying strength within an asset’s structure. While a retest of the pattern is underway, a successful breakout could be a major turning point for LTC.

A well-known person in the crypto analytical world, World of Charts, has taken advantage of this technical advancement and made a daring prediction for Litecoin.

Their prediction depends on how well the present breakout goes. World of Charts forecasts an incredible “middle bullish wave” for LTC if it can continue to gain strength and break free of the triangular pattern. This might result in a possible increase of 300–400% over the course of the next few months.

Experts Remain Cautious Despite Optimism

The cryptocurrency market, however, remains a land of unpredictable twists and turns. While analyst predictions like World of Charts’ are certainly attention-grabbing, industry experts urge caution. The inherent volatility of the market means even well-supported forecasts can be thrown off course by unforeseen events.

Furthermore, some analysts point out that Litecoin faces competition from newer, faster-growing altcoins vying for investor attention.

Whether LTC can recapture its past glory and establish itself as a true silver lining in the ever-evolving crypto market landscape remains to be seen.

The Road Ahead For Litecoin

The coming months will be crucial for Litecoin. A successful breakout from the symmetrical triangle pattern, coupled with sustained investor interest and trading activity, could propel LTC towards a significant price increase.

Featured image from Pixabay, chart from TradingView

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XRP To Blast Off? Analyst Predicts ‘Realistic’ 5x Surge To $3

XRP, the native token of Ripple, has caught the attention of market analyst Mikybull who is calling for a potential 5x surge in the mid-term. This bullish prediction comes amidst recent struggles for XRP, which is currently grappling to maintain support above the $0.60 level.

Mikybull bases his optimism on two key technical indicators: the two-year moving average (MA) and a symmetrical triangle formation on the two-month chart. XRP recently crossed above the two-year MA, a historical signifier of significant price increases according to the analyst. This pattern held true in late 2017 when XRP skyrocketed to its all-time high of $3.31 after a similar crossover.

XRP Technical Chart Hints At Breakout

The symmetrical triangle on the two-month chart further bolsters Mikybull’s prediction. This pattern often precedes a breakout, and in XRP’s case, a breakout above the triangle’s upper trendline could propel the price towards $3.10, aligning with Mikybull’s 5x surge target. The 2017 price surge also coincided with a breakout from a similar triangle formation, lending historical credence to the analyst’s view.

A Cautious Approach Still Warranted

However, cryptocurrency enthusiasts should approach this prediction with a dose of healthy skepticism. While technical analysis can be a valuable tool, past performance doesn’t guarantee future results. The broader market environment can significantly impact individual cryptocurrency prices. Furthermore, XRP is currently facing resistance at the $0.60 level, highlighting a potential hurdle before any significant upward climb.

Regulatory Landscape And Adoption Remain Key

Beyond technical indicators, the future of XRP hinges on two crucial factors: the ongoing legal battle with the SEC and its adoption within the financial sector. The SEC lawsuit, which accuses Ripple of selling unregistered securities, has cast a shadow over XRP, creating uncertainty for investors. A positive resolution in Ripple’s favor could significantly boost investor confidence and potentially trigger a price increase.

On the adoption front, Ripple’s core utility lies in facilitating faster and cheaper cross-border payments for financial institutions. Increased adoption of Ripple’s technology by banks and other financial players would translate to a higher demand for XRP, potentially driving its price upwards.

A Calculated Optimism For XRP

The coming months will be crucial for XRP as the legal battle with the SEC unfolds and its adoption within the financial sector becomes clearer. With a mix of technical optimism and lingering uncertainties, XRP’s journey towards the $3 target promises to be an exciting, yet potentially volatile, ride.

Featured image from Pixabay, chart from TradingView

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Dogecoin Usurped: These Memecoins Overtake DOGE In Active Trader Count

On-chain data suggests Dogecoin is no longer the dominant meme coin in terms of its weekly active trader count. Here are the coins above it.

Dogecoin Has Been Surpassed In Trader Count By Other Memecoins

According to data from the market intelligence platform IntoTheBlock, DOG and DEGEN are the two assets that have managed to surpass the original meme-based cryptocurrency in terms of weekly trader count.

A “trader” here refers to an investor who has been holding onto their coins since less than 30 days ago. These investors generally tend to move their coins often, as they play the role of active traders in the market. They are certainly not the HODLers of the sector.

When the number of these traders goes up for any asset, it means that some fresh interest is potentially coming into the coin. Price actions like rallies are only sustainable when they have an ever-increasing fuel coming in, so the trader count going up can perhaps be a bullish indication in this direction.

On the other hand, the metric going down implies traders either are losing interest in the cryptocurrency or have decided to hold onto it in the long term, thus maturing past the 30-day threshold. Whatever the case be, though, a drawdown in the indicator does suggest a lack of new hands coming into the market.

Now, here is a chart that shows the trend in the number of traders for the various meme coins in the sector:

Dogecoin Number of Traders

As displayed in the chart, Dogecoin (in blue) has consistently remained number one in terms of the number of traders, which only makes sense as DOGE has generally been the most popular meme coin, as its market cap would indicate.

Hype and excitement are usually the number one driver for attracting users to a cryptocurrency. It would appear, though, that DOGE has recently been falling off in this metric.

“While DOGE has long dominated almost every metric in the memecoin market, it seems to be losing some of its dominance,” says the analytics firm. The interest behind the coin may thus not be at the same level anymore.

As for which meme coins have overtaken the cryptocurrency so far, IntoTheBlock notes, “DEGEN currently leads with 129k active traders, followed by DOG with 126k.”

Given this high interest in these memecoins, it’s possible they may be likely to go through some volatility in the near future as all these traders make moves at once.

In theory, this volatility can take these coins in either direction, but as the intelligence platform explains, “a strong increase in traders usually coincides with bullish momentum.”

DOGE Price

Dogecoin had slipped below the $0.17 level last week, but the coin has since bounced back as it’s now trading just under $0.20.

Dogecoin Price Chart

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Don’t Miss The VeChain Train — Analyst Projects 400% Price Increase

VeChain (VET), a blockchain platform aiming to revolutionize supply chain management, has become a hot topic in the cryptocurrency world. A recent surge in VET’s price, coupled with technical breakthroughs, has ignited a wave of optimism among investors and analysts.

VeChain Shatters Resistance Levels, Bullish Flag Signals New Highs

The good news for VeChain started with a decisive break above a multi-year downtrend line. This technical indicator, closely watched by analysts, suggests a potential shift in long-term market sentiment. Additionally, VET decisively surpassed a key horizontal resistance level, adding fuel to the bullish fire.

At the time of writing, VET was trading at $0.04, down 3.1% in the last 24 hour, but managed to sustain a 17% gain the last week, data from Coingecko shows.

Following this breakout, VeChain entered a consolidation phase, a period of sideways trading often seen after a significant price increase. However, this pause proved to be temporary. VET recently emerged from a bullish flag formation, a technical pattern known for preceding substantial price increases. Analysts are interpreting this breakout as a sign that VeChain is poised for another leg up.

400% Surge Anticipated: Will VeChain Live Up To The Hype?

Capitalizing on the bullish sentiment, crypto analysts have made some bold predictions. World of Charts, a prominent analyst group, is forecasting a staggering 400% increase in VET’s value in the coming weeks.

X user Clifton Fx also provided a positive outlook. A 25% surge to $0.06 is in the cards in the next days, the expert said, pointing to VET’s “bullish flag” on the daily period.

However, the cryptocurrency market is notorious for its volatility, and unforeseen events can trigger rapid price swings. While the technical indicators and analyst forecasts paint a rosy picture for VeChain, there’s no guarantee that the predicted surge will materialize.

Beyond The Hype: VeChain’s Real-World Potential

VeChain’s appeal goes beyond the recent technical triumphs and the allure of potential windfalls. Unlike many cryptocurrencies focused solely on speculation, VeChain offers a tangible solution to real-world problems. Its blockchain platform tackles inefficiencies and lack of transparency in supply chains, a multi-trillion dollar industry ripe for disruption.

VeChain’s technology allows businesses to track products throughout the entire supply chain process, ensuring authenticity, quality, and efficient logistics. This not only benefits businesses but also empowers consumers with greater transparency about the products they purchase.

VeChain’s recent surge and optimistic forecasts present an attractive opportunity for investors. However, the inherent volatility of the cryptocurrency market cannot be overstated.

Featured image from Binance Academy, chart from TradingView

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From Hat To Heights: Dogwifhat’s $17 Crypto Leap Electrifies Investors

Dogwifhat (WIF) has been on a wild ride this week. As of Tuesday evening, its value surged by nearly 10%, however, the canine-inspired cryptocurrency could not sustain the momentum and by Wednesday, it lost 14% of its value.

Dogwifhat’s Aggressive Rise And Sudden Dip

The rollercoaster ride began with a bang. Dogwifhat, a newcomer to the meme coin scene built on the Solana blockchain, quickly drew investor interest. Its lighthearted name and association with the ever-popular dog meme trend fueled a buying frenzy, pushing its price up by double digits. This bullish sentiment echoed a wider trend in the meme coin market, which saw a 1.5% increase over the past week.

WIF’s price has risen by 90% during the past month, adding an enormous $0.32 on average to its present price tag. This rapid rise indicates that if the coin keeps growing, it has the potential to become a reliable asset.


WIF price action in the last month. Source: CoinMarketCap

On March 29, Dogwifhat surpassed Pepe (PEPE) to become the third-largest memecoin by market capitalization, according to CoinMarketCap data.

However, the euphoria surrounding Dogwifhat proved short-lived. The broader Solana meme coin category, which includes WIF, witnessed a steeper decline compared to the overall meme coin market. This suggests factors specific to Solana meme coins, possibly network congestion or concerns about the platform’s scalability, might be contributing to the price drop.

Dogwifhat’s Future: A Lofty Prediction, But Is It Realistic?

Despite the recent dip, some analysts remain optimistic about Dogwifhat’s future. Changelly, a leading on-chain metrics and price prediction firm, has released a forecast that has set tongues wagging. Their prediction? Dogwifhat could reach a staggering $17 in the near future, representing a potential surge of a whopping 300% from its current price.

This rosy picture, however, comes with a hefty dose of caution. The cryptocurrency market is notorious for its volatility. Meme coins, in particular, are known for their meme-driven price fluctuations, often lacking the underlying utility or strong fundamentals found in established cryptocurrencies. While the potential for massive returns in meme coins exists, so too does the risk of significant losses.

On Bugs And Project Postponements

Meanwhile, as additional projects and customers have joined its ecosystem over the past month, Solana has experienced network congestion.

Anatoly Yakovenko, the co-founder of Solana, talked about the difficulties of “dealing with congestion bugs” on Twitter last Thursday. As a result of the congestion problems, several cryptocurrency projects have postponed token launches in the past few days.

Reportedly, developers of Solana have scheduled the deployment of a patch for a “implementation problem” that has caused the network’s transaction failure rates to skyrocket on April 15.

According to Helius Labs CEO Mert Mumtaz, the current problem with the network is not a “design flaw,” but the “implementation bug.”

Featured image from Bybit, chart from TradingView